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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-adds-proshares-spot-ethereum-etf-application/" data-wpel-link="internal">SEC Adds ProShares’ Spot Ethereum ETF Application</a><br></p>
<p class="p1" style="text-align: justify">The U.S. Securities and Exchange Commission <strong>(SEC),</strong> added an application for a spot <a href="https://en.coin-turk.com/record-outflows-in-cryptocurrency-reaches-417-million-over-8-weeks/" data-wpel-link="internal">Ethereum</a> exchange-traded fund (ETF) from asset manager ProShares. This development followed ProShares’ proposal on June 6 to list and trade Ethereum ETF shares on the New York Stock Exchange (NYSE). In a June 10 filing, the SEC noted that NYSE Arca proposed a rule change to facilitate this listing.</p> 
<h2 class="p1" style="text-align: justify" id="the-process-for-ethereum-etf-funds-continues">The Process for Ethereum ETF Funds Continues</h2> 
<p class="p1" style="text-align: justify">The public now has 21 days to comment on the application, and the SEC likely has 45 days to decide by the end of July 2024. However, this acceptance does not mean approval; it only indicates that the SEC has received and is reviewing the application. <strong>ProShares’</strong> entry into the spot Ethereum ETF <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> follows several other potential issuers whose 19b-4 <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">applications</a> were approved in May 2024. Bloomberg Intelligence ETF analyst James Seyffart commented on the timing of ProShares’ move:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Instinct initially says this won’t start on day one with other ETFs, but who knows. Still, ProShares’ late jump is intriguing.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">In another development, the SEC approved Ark Invest’s exit from its joint ETF application with 21Shares. This approval allows 21Shares to proceed independently. The SEC waived the usual 30-day delay, making the change effective immediately. The decision was based on the assessment that it did not significantly impact investor protection or competition.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361111" src="https://coin-turk.com/wp-content/uploads/2024/06/james.png" alt="" width="500" height="345"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-etf-field">What’s Happening in the ETF Field?</h2> 
<p class="p1" style="text-align: justify"><strong>Ark Invest</strong> and 21Shares announced their split on May 31. A newly amended S-1 form reveals that the spot Ethereum ETF will change its name from ARK 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Despite these developments, potential spot Ethereum ETF issuers are still awaiting feedback on their S-1 applications submitted on May 31. The SEC’s comments, initially expected on June 7, have not yet been received by at least two issuers.</p> 
<p class="p1" style="text-align: justify">A recently published report reveals that issuers expect feedback this week. This update follows SEC Chairman Gary Gensler’s remarks on CNBC that the approval process for S-1 forms will take some time.</p> 
<p class="p1" style="text-align: justify">The approval process for these ETFs consists of two steps: the 19b-4 filing and the S-1 filing. The S-1 forms are currently under review. Bloomberg Intelligence ETF analyst Eric Balchunas previously noted that the next fine-tuning comments from SEC staff will likely come before final approval.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/sec-adds-proshares-spot-ethereum-etf-application/" data-wpel-link="internal">SEC Adds ProShares’ Spot Ethereum ETF Application</a></h5>

SEC Adds ProShares’ Spot Ethereum ETF Application

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